CHYM Stock Rises Premarket After $590M Stride Deal: Wall Street Hikes Target Price, Sees ‘Long Runway’ For Growth

Chime Financial (CHYM) shares rose 6% to $34.28 on Nasdaq after announcing the $590M cash acquisition of Stride Bank. The stock opened at $35.49, reaching a high of $35.55. It has traded between $15.88 and $35.55 over the past year.

Chime Financial (CHYM) reported strong growth, raising guidance due to Chime Prime, lending, and direct deposit relationships. The Stride Bank acquisition is expected to boost innovation, streamline operations, and expand geographically. AI and tech integration will support rapid development and efficiency, according to the company.

Chime, a fintech company, agreed to acquire Stride Bank for $590 million in cash. Shares rose 10% post-announcement. The deal aims to bring banking operations in-house, expand lending, and avoid Dodd-Frank regulations. Chime expects $100M+ in annual synergies. The acquisition needs regulatory approval and is expected to close in 2027. Chime also raised its 2023 revenue guidance to $2.76B-$2.77B.

Chime Financial (CHYM) announced the acquisition of Stride Bank for $590M in cash and raised its outlook. Analysts increased price targets for CHYM stock, which initially surged but later cut gains.

Chime Financial (CHYM) shares rose 5.9% after announcing the $590M acquisition of Stride Bank's parent and raising its 2026 revenue and EBITDA guidance. The company expects the deal to be immediately accretive to earnings.

BMO Capital raised its price target on Chime Financial (CHYM) to $38 from $32, citing the company's acquisition of Stride Bank. The deal is expected to generate $100 million in net synergies and be immediately accretive post-closing in 1H27. Chime's stock has gained 43% over the last six months, and several other firms have also increased their price targets following the announcement.